Segall Bryant & Hamill LLC Reduces Position in Avery Dennison Corp (AVY)

Segall Bryant & Hamill LLC lessened its position in shares of Avery Dennison Corp (NYSE:AVY) by 8.7% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 275,609 shares of the industrial products company’s stock after selling 26,173 shares during the quarter. Segall Bryant & Hamill LLC owned about 0.31% of Avery Dennison worth $29,283,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in AVY. Tiverton Asset Management LLC grew its stake in Avery Dennison by 50.7% during the 1st quarter. Tiverton Asset Management LLC now owns 1,478 shares of the industrial products company’s stock worth $157,000 after buying an additional 497 shares during the last quarter. Focused Wealth Management Inc acquired a new stake in Avery Dennison during the 4th quarter worth approximately $184,000. Gideon Capital Advisors Inc. acquired a new stake in Avery Dennison during the 1st quarter worth approximately $205,000. Meridian Investment Counsel Inc. acquired a new stake in Avery Dennison during the 4th quarter worth approximately $206,000. Finally, IBM Retirement Fund acquired a new stake in Avery Dennison during the 1st quarter worth approximately $207,000. Hedge funds and other institutional investors own 85.24% of the company’s stock.

Shares of AVY traded down $0.06 during mid-day trading on Thursday, hitting $106.50. The company’s stock had a trading volume of 1,491 shares, compared to its average volume of 703,755. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.12 and a quick ratio of 0.79. The stock has a market capitalization of $9.48 billion, a P/E ratio of 21.35, a P/E/G ratio of 2.57 and a beta of 1.25. Avery Dennison Corp has a 1-year low of $84.76 and a 1-year high of $123.67.

Avery Dennison (NYSE:AVY) last posted its quarterly earnings results on Wednesday, April 25th. The industrial products company reported $1.44 EPS for the quarter, beating the consensus estimate of $1.36 by $0.08. The business had revenue of $1.78 billion during the quarter, compared to analysts’ expectations of $1.74 billion. Avery Dennison had a return on equity of 44.21% and a net margin of 4.32%. The company’s quarterly revenue was up 13.0% compared to the same quarter last year. During the same period last year, the firm earned $1.11 EPS. research analysts anticipate that Avery Dennison Corp will post 5.99 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 20th. Stockholders of record on Wednesday, June 6th will be issued a $0.52 dividend. This is a boost from Avery Dennison’s previous quarterly dividend of $0.45. This represents a $2.08 annualized dividend and a dividend yield of 1.95%. The ex-dividend date of this dividend is Tuesday, June 5th. Avery Dennison’s dividend payout ratio (DPR) is currently 41.60%.

A number of research firms have weighed in on AVY. Zacks Investment Research cut Avery Dennison from a “buy” rating to a “hold” rating in a research report on Friday, June 8th. JPMorgan Chase & Co. raised Avery Dennison from an “underweight” rating to a “neutral” rating and set a $107.00 price objective for the company in a research report on Thursday, April 26th. Loop Capital increased their price objective on Avery Dennison to $111.00 and gave the stock a “hold” rating in a research report on Wednesday, May 2nd. They noted that the move was a valuation call. KeyCorp reaffirmed a “hold” rating on shares of Avery Dennison in a research report on Wednesday, April 25th. Finally, BMO Capital Markets began coverage on Avery Dennison in a research report on Tuesday, March 27th. They set a “market perform” rating and a $120.00 price objective for the company. Five equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $123.11.

In other news, Director Dean A. Scarborough sold 30,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 21st. The stock was sold at an average price of $110.48, for a total value of $3,314,400.00. Following the completion of the sale, the director now directly owns 136,953 shares of the company’s stock, valued at approximately $15,130,567.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Susan C. Miller sold 15,848 shares of the firm’s stock in a transaction that occurred on Friday, March 16th. The shares were sold at an average price of $111.08, for a total value of $1,760,395.84. Following the completion of the sale, the vice president now directly owns 13,409 shares of the company’s stock, valued at $1,489,471.72. The disclosure for this sale can be found here. Insiders sold a total of 131,874 shares of company stock valued at $14,201,715 over the last three months. Insiders own 1.30% of the company’s stock.

Avery Dennison Profile

Avery Dennison Corporation produces and sells pressure-sensitive materials worldwide. The company's Label and Graphic Materials segment offers pressure-sensitive label and packaging materials; and graphics and reflective products under the Fasson, JAC, Avery Dennison, and Mactac brands. It also offers durable cast and reflective films.

Institutional Ownership by Quarter for Avery Dennison (NYSE:AVY)

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